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To: Eric Wells who wrote (104137)	5/26/2000 2:33:00 PM
From: Bill Harmond	Respond to of 164684

ICGE is a particularly leveraged situation because its future depends on successfully incubating venture companies and bringing them public. I never owned it because I thought VerticalNet was a better security, and didn't understand how ICGE could trade where it did relative to one of it's public offspring.

To: Eric Wells who wrote (104137)	5/26/2000 2:38:00 PM
From: Sarmad Y. Hermiz	Respond to of 164684

OK, enough of regurgitating the past. I bought ADPT. It is up today in a down market. And yesterday also. This is a pure tech stock at a P/E of 12. Down to 18 from 60 in the growing storage area. And just for you Eric, I honestly cannot name a single risk for this company, other than it was at 16 a couple of days ago, and might get there again in a market crash. -Sarmad

To: Eric Wells who wrote (104137)	5/26/2000 2:53:00 PM
From: Bob Kim	Respond to of 164684

I was making a stand for sanity in the market. Eric, Did you know that ML put ICGE on its list of ten best tech stock ideas at the beginning of the year even though their price target on ICGE was a split adjusted $62.50? It replaced one of the following: KEM, MERQ, NT, NVLS, ORCL, SUNW. On the subject of sanity. Stock splits can disguise the craziness. For example, INSP has split twice this year. Taking out the splits, ML's price target on INSP went from $160 in Dec99 to $700 on 4/20/00 and was back down to $400 the following week or so. Right now the stock trades at around $160 on a comparable basis.

To: Eric Wells who wrote (104137)	5/26/2000 4:51:00 PM
From: Glenn D. Rudolph	Read Replies (1) \| Respond to of 164684

But you were right for only a few months. One might conclude that from the viewpoint of a long term call, you were wrong on this one (don't take offense - just stating a point of view). But who knows - perhaps, ICGE may rise up to 212 again soon. Eric, You state your point well and this is where I get confused. My feeling is ICGE should have never climbed to the heights it did. On the other hand, who am I to say it never will again? The market has been volatile the last few years. Those that were long the "high flyers" did well so far assuming they sold or at least took a part off the table. Those that were short and could not hold the position were killed. But to state that those that were long these stocks were wrong because the stocks have come down now is not necessarily true. We do not know what the future will bring.